EUROPEAN STOCKS PAUSE FOR BREATH AS BOND SELLOFF EXTENDS

EUROPEAN STOCKS PAUSE FOR BREATH AS BOND SELLOFF EXTENDS

EURO STOXX 50 futures fell 0.67% and FTSE futures were up.

 Stocks took a breather on Tuesday, easing from record highs as political turmoil in Washington and rising coronavirus cases gave pause, though a selloff in U.S. Treasuries extended as investors reckon on a big spending government.

The yield on benchmark U.S. government 10-year debt, which rises when prices fall, gained as much as 2.4 basis points to a fresh ten-month high of 1.1580%

Political uncertainty tempered the mood somewhat as Democrats introduced a resolution to impeach U.S. President Donald Trump, accusing him of inciting insurrection following a violent attack on the Capitol last week.

Overnight, the Nasdaq led modest losses on Wall Street, falling 1.3% as investors sold tech giants who have taken actions against Trump and his supporters.

Twitter tumbled 6.4% on Monday after it permanently suspended Trump’s account last Friday.

The pan-European Stoxx 50 climbed up by 0.67%  to 3,620.62. In the cash markets, the DAX futures Germany was trading 0.80%  higher at 13936.66. CAC 40 futures in France climbed up by 0.78% to 5,662.43, while the FTSE 100 futures in the U.K. fell by 1.09% to 6798.48,at the time of writing.

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